Ericsson Corporate Park

Acquisition Opportunity   Development Strategy    Results Achieved

  
 Acquire a user-owned multi-tenant corporate campus with a 74% vacancy rate.
 Located 15 miles from downtown Pittsburgh in the Cranberry submarket, which is experiencing rapid growth in residential, retail and office construction.
 
 Re-brand the property and aggressively market the campus to large credit tenants that will increase occupancy and drive net operating income.
 Reduce historical operating expenses through re-bidding service contracts and establishing a baseline for utility expenses
 Finalize a real estate tax appeal which should decrease the tax assessment in place for the park
 Obtain land development approvals to add more parking to the site
 Leased up the building to 90% within 3 weeks of owning the property by signing a long term lease with Federated Investors.
 Upgrading landscaping, signage and common areas to create multi-tenant office park atmosphere.
       
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